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Regions :: Eastern Europe

Europe slaps price-fixing fines on producers of flexible PU foam

7:36 AM MST | January 29, 2014 | Ian Young

The European Commission has fined three manufacturers a combined €114 million ($156 million) for conspiring to fix prices of flexible polyurethane (PU) foam between October 2005 and July 2010. The aim of the price-fixing cartel was to pass on raw material price increases of bulk chemicals to customers and avoid aggressive price competition, the commission says. "To achieve this goal, the cartelists organized price-coordination meetings at all levels of European management," the commission says. The companies are Carpenter (Richmond, VA)...

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